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Fuyao Glass Industry Group

Two years ago, China’s Fuyao Glass Industry Group opened an auto glass plant in Kaluga with annual output of 1 mln units. According to yesterday’s statement of Shi Tzyun, CEO of Fuyao Glass Rus, at the Autoevolution-2015 conference in Kaluga, the company will initiate the second stage of investment program until the end of 2015 by granting another 100 mln Euro to double production capacity to 2 mln units of automotive glass per year. Mr. Tzyun says that decline on the automotive market was a painful surprise, but the company chose to stick to the plan, believing the market will rally.

Fuyao starts its export operations, and the first foreign markets include Germany, Belgium, France and Spain, says Shi Tzyun. When the first stage of the Russian plant was commissioned in autumn 2013, Fuyao announced that it will export two thirds of the plant’s total expected output of 3 mln units per year. Automotive market decline and devaluation of the Russian ruble have geared up the plant’s exports.

Volkswagen has started exporting car engines from Russia to Europe and is getting ready to ship cars to non-CIS countries, said acting governor of Kaluga Region Anatoly Artamonov during the meeting with President Vladimir Putin yesterday (cited on kremlin.ru). A 250 min Euro Volkswagen engine factory with annual capacity of 150,000 engines and was launched in Kaluga on 4 September, located next to the VW Group plant. The company will install engines produced here on a third of all the cars produced in the country, including those manufactured under a contract in Nizhny Novgorod.

Peter Andersson, CEO of Volvo Group Russia, said at the Autoevolution-2015 forum that his company also wants to supply Russian-made cabins to its factories abroad. He shared that the cabin plant will resume operation in late September, followed by the launch of a nearby automotive factory on 1 October, which was shut down in early 2015 due to the market decline.

PSA Peugeot-Citroen is also examining opportunities for exporting Russia-made products, says Jean-Christophe Marchal, Managing Director at PCMA Rus. He explains that this step will support Russian vendors.

07 September 2015
Vedomosti
Investor
112.5 mln
Kaluga region

Investor profile

Fuyao Glass Industry Group

China

Company's website: www.fuyaogroup.com/en/

T: (86-591) 8536-3456

Public company

E-mail: GM@fuyaogroup.com

Contact: Cao Dewang, Chairman of the Board

Fuyao Glass Industry Group Co., Ltd. (FYG) is the world leader in the production of automotive and industrial technology glass located in the Peoples Republic of China. The company went public in Shanghai Stock Exchange in 1993. The company’s facilities in China, Hong Kong and the USA incorporate a total of more than 8,000 jobs. Being the largest vendor of automotive glass in China, FYG takes up 60% of OEM glass market and more than 30% share of auto glass replacement market (ARG, Aftermarket). FYG’s principal competitors in China are GM, Ford, Honda, Isuzu, Toyota, Mazda, VW, Citroen and Mercedes.

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